HI I AM INTO MINING BUSINESS,
I HAVE PURCHASED A TATA TIPPER TRUCK.
SHOULD I CLAIM INPUT TAX CREDIT.
ASKING BECAUSE SOME OF THE TAX PRACTISONERS TOLD ME THAT IF I DO SO LATER GOVT. WILL CLAIM THAT BACK WITH INTEREST.
if it is used for business purpose you can claim the entire tax credit .i.e. furhterance of business should be there ( it means the net result of the activity is business related only )
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
